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20130228
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the feds would have to furlough hundreds of thousands of workers. jennifer griffin is at the pentagon tonight. how bad do officials say this will be for the military. >> in if you listen to the military, really bad. >> instead of a first rate power in the world second rated power that would be the result of sequester. >> you won't hear this chairman arguing we need to do more with less. if that happens we need to do less with less. >> the real problem is as the u.s. and allies. adversaries are doing opposite. russia will surpass defense spending in just two years. china is slated to overtake the u.s. in 2035, shepard. >> shepard: jennifer, analysts are saying that the u.s. defense budget is still larger than the next 13 countries combined. how in the world could this make us a second rate power? if is six times larger than china's official defense spending. >> you have seen double digit a increases in chinese defense spending for more than 15 years now. that should not only give pause to the united states but it really should be a source of concern for the countries in the region as w
from defense and domestic programs. that would mean temporarily laying off thousands of pentagon staffers. air traffic controllers, border guards and federal agents. carl cameron is in d.c. carl? >> thanks, shep. senate democrats today actually proposed their alternative to all these across the board cuts. they come up at the end of the month. it's $55 billion in spending cuts. and $55 billion in tax increases. but ta up $650 billion already this year. so when republicans heard that they i. the democrats were talking about more, the g.o.p. said no way. not a solution. even they know it can't pass. political stunt designed to mask the fact they have offered no solutions. >> congressional budget office estimates the cuts would trim 8% off the department of defense and about 5% to 6% off othe rest of the agencies. democrats insist that any solution to decades of deficit spending has to include tax hikes on the rich. is is it a spending problem? no. it's because we have a misallocation of capital. a misallocation of wealth. we have a tax code that is skewed for the wealthy. >> so rep
Search Results 0 to 3 of about 4 (some duplicates have been removed)